Waterway Wealth Management LLC Buys 222 Shares of International Business Machines Co. (NYSE:IBM)

Waterway Wealth Management LLC increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,860 shares of the technology company’s stock after purchasing an additional 222 shares during the period. Waterway Wealth Management LLC’s holdings in International Business Machines were worth $546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBM. Bank of Nova Scotia lifted its holdings in International Business Machines by 11.7% in the 3rd quarter. Bank of Nova Scotia now owns 100,825 shares of the technology company’s stock worth $14,146,000 after purchasing an additional 10,585 shares in the last quarter. Morningstar Investment Services LLC lifted its holdings in International Business Machines by 41.3% in the 3rd quarter. Morningstar Investment Services LLC now owns 3,016 shares of the technology company’s stock worth $427,000 after purchasing an additional 882 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in International Business Machines in the 3rd quarter worth approximately $801,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in International Business Machines by 33.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 550,928 shares of the technology company’s stock worth $77,295,000 after purchasing an additional 138,680 shares in the last quarter. Finally, Waverly Advisors LLC lifted its holdings in International Business Machines by 48.1% in the 3rd quarter. Waverly Advisors LLC now owns 19,692 shares of the technology company’s stock worth $2,763,000 after purchasing an additional 6,397 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 1.2 %

Shares of IBM stock traded up $2.10 during mid-day trading on Friday, hitting $172.95. The stock had a trading volume of 4,193,459 shares, compared to its average volume of 3,570,876. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The firm has a market capitalization of $158.87 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 4.27 and a beta of 0.72. International Business Machines Co. has a 12-month low of $131.55 and a 12-month high of $199.18. The firm’s 50-day moving average is $169.95 and its two-hundred day moving average is $176.57.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same period in the prior year, the company posted $1.36 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research reports. BNP Paribas initiated coverage on International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective on the stock. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. BMO Capital Markets cut their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Morgan Stanley cut their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Sanford C. Bernstein boosted their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average price target of $182.53.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.